VANCOUVER, BC, Dec. 9, 2024
/CNW/ - Defense Metals Corp. ("Defense Metals" or the "Company";
(TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to confirm that
it expects to release the results of its Pre-feasibility Study
("PFS") for the Wicheeda Rare Earth Element Project during the week
of February 10, 2025. The full PFS
report will be prepared in accordance with National Instrument
43-101 standards and filed within 45 days of the initial
announcement.
The PFS is being prepared by Hatch Ltd., a globally recognized
engineering and consulting firm, with contributions from SRK
Consulting and other leading experts. Price projections for the
mixed rare earth carbonate expected to be produced have been
provided by Argus Media, a respected authority in the rare earths
market.
Mr. Guy de Selliers, Executive
Chair of Defense Metals, commented:
"I am enthusiastic about the release of the PFS
which marks a pivotal milestone in advancing the Wicheeda Rare
Earth Element Project. This study, initiated nearly a year ago,
reflects the efforts of a world-class team, including Hatch, SRK,
and other recognized experts. We are confident that the PFS will
serve as a solid foundation, guiding us in the next steps in the
development of our Wicheeda project."
Defense Metals remains committed to advancing its 100%-owned
Wicheeda Project to support the growing demand for critical
minerals essential to the green energy transition.
About Defense Metals Corp. and its Wicheeda Rare Earth
Element Project
Defense Metals Corp. is focused on the development of its 100%
owned, 11,800-hectare (~29,158-acre) Wicheeda REE Project that is
located on the traditional territory of the McLeod Lake Indian Band
in British Columbia, Canada.
The Wicheeda REE Project, approximately 80 kilometres (~50
miles) northeast of the city of Prince
George, is readily accessible by a paved highway and
all-weather gravel roads and is close to infrastructure, including
hydro power transmission lines and gas pipelines. The nearby
Canadian National Railway and major highways allow easy access to
the port facilities at Prince
Rupert, the closest major North American port to
Asia.
For further information, please visit www.defensemetals.com
or contact:
Alex Heath
Senior Vice President, Corporate Development & Interim CFO
Tel: +1 604-354-2491
Email: alex@defensemetals.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking"
Information
This news release contains "forward‐looking information or
statements" within the meaning of applicable securities laws, which
may include, without limitation, any statements (expressed or
implied) relating to: advancing the Wicheeda Project, the use of
net proceeds from the Private Placement, final TSXV approval of the
Private Placement, the technical, financial and business prospects
of the Company, its project and other matters. Forward-looking
statements are typically identified by words such as "plan,"
"believe," "expect," "anticipate," "intend," "outlook," "estimate,"
"forecast," "project," "continue," "could," "may," "might,"
"possible," "potential," "predict," "should," "would" and other
similar words and expressions, but the absence of these words does
not mean that a statement is not forward-looking. All statements in
this news release, other than statements of historical facts, that
address events, contribution or developments that the Company
expects to occur, are forward-looking statements. Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in the forward-looking statements. Such
statements and information are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the price of rare earth elements, the anticipated costs
and expenditures, the ability to achieve its goals, that general
business and economic conditions will not change in a material
adverse manner, that financing will be available if and when needed
and on reasonable terms. Such forward-looking information reflects
the Company's views with respect to future events and is subject to
risks, uncertainties and assumptions, including the risks and
uncertainties relating to the interpretation of exploration and
metallurgical results, risks related to the inherent uncertainty of
exploration and development and cost estimates, the potential for
unexpected costs and expenses and those other risks filed under the
Company's profile on SEDAR+ (www.sedarplus.ca). While such
estimates and assumptions are considered reasonable by the
management of the Company, they are inherently subject to
significant business, economic, competitive and regulatory
uncertainties and risks. Factors that could cause actual results to
differ materially from those in forward looking statements include,
but are not limited to, continued availability of capital and
financing and general economic, market or business conditions,
adverse weather and climate conditions, failure to maintain or
obtain all necessary government permits, approvals and
authorizations, failure to maintain or obtain community acceptance
(including First Nations), risks relating to unanticipated
operational difficulties (including failure of equipment or
processes to operate in accordance with specifications or
expectations, cost escalation, unavailability of personnel,
materials and equipment, government action or delays in the receipt
of government approvals, industrial disturbances or other job
action, and unanticipated events related to health, safety and
environmental matters), risks relating to inaccurate geological,
metallurgical, engineering and pricing assumptions, decrease in the
price of rare earth elements, the impact of viruses and diseases on
the Company's ability to operate, restriction on labour and
international travel and supply chains, loss of key employees,
consultants, officers or directors, increase in costs, delayed
results, litigation, and failure of counterparties to perform their
contractual obligations. The Company does not undertake to update
forward–looking statements or forward–looking information, except
as required by law.
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SOURCE Defense Metals Corp.